Exchanges aim to benefit many Americans

While the Affordable Care Act has several provisions, one which many Americans are interested to see in place is the establishment of health insurance exchanges.

The exchanges are designed to allow consumers to compare multiple plan offerings and purchase a policy which best meets their needs and budget. States have the option of running the program themselves or having the federal government do so for them. Many states have received federal aid to help establish an exchange.

Ron Goldstein of Choice Administrators, which creates and implements exchanges, says the markets stand to have a large impact on the country.

"Exchanges may end up the yardstick by which health reform is judged for generations to come," says Goldstein. "Making health insurance more accessible and affordable for all Americans is an awesome task and noble goal. If we all pull together, we can make it work."

Last month, California became the first state to establish an exchange. It's believed that exchanges will be able to buy more policies and therefore offer less-expensive rates to consumers.